Keystone, Coventry, Molo cut mortgage rates

They respond to stabilising market conditions with lower fixed rates and BTL deals

Keystone, Coventry, Molo cut mortgage rates

Several mortgage lenders have announced rate reductions across their product ranges, aiming to provide more competitive pricing for borrowers and investors. 

Keystone Property Finance has reduced all its two- and five-year fixed rates by 15 basis points (bps) across its standard, specialist, expat, holiday let, and product transfer ranges. The new rates include 3.34% up to 70% loan-to-value (LTV) for standard products and 4.89% up to 65% LTV for expat products.

“We’re delighted to be able to reduce our mortgage rates for the second time this year,” said Elise Coole (pictured left), managing director of Keystone Property Finance. “While funding conditions remain fairly volatile, we remain committed to passing on the benefits of falling swap rates as quickly as we possibly can. That means brokers and their clients can be sure that we are always offering the most competitive rates we can.”

Coventry for intermediaries has also lowered rates on all its fixed products, cutting owner-occupier rates by up to 27bps and buy-to-let rates by up to 20bps. Key reductions include a two-year residential remortgage at 4.46% fixed until August 2027 with a £999 fee and a five-year BTL purchase at 4.70% fixed until August 2030 with a £1,999 fee.

“Market conditions have stabilised, allowing us to pass on these reductions to all our fixed rate products,” said Jonathan Stinton (pictured centre), head of intermediary relationships at Coventry Building Society. “We’re pleased to be able to continue to help mortgage brokers and their clients by offering more competitive rates across the board that create greater choice for people looking for their next mortgage deal.”

Meanwhile, Molo Finance has cut rates by 20bps on its UK resident two- and five-year BTL products. Standard BTL rates now start at 3.25% for individuals and limited companies, while specialist BTL products, including multi-unit freehold blocks (MUFBs), houses in multiple occupation (HMOs), and new-build properties, begin at 3.50%. Rates for non-UK residents and expats remain at 5.99% and 5.24%, respectively.

“Brokers play a crucial role in helping landlords secure the right financing,” said Martin Sims (pictured right), distribution director at Molo Finance. “By reducing our rates, we are giving intermediaries even stronger options to support their clients.”

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